SHANGHAI, China—Chinese tire maker Sailun Group Co. Ltd. has disclosed plans to build a passenger, truck and OTR tire plant in Shandong Province in a five-phase project valued at $2.25 billion.
The project is expected to take up to five years to complete, Sailun said in a recent filing with the Shanghai Stock Exchange. Once fully on-stream, the factory will be rated at 20 million high-performance passenger tires, 10 million all-steel radial truck tires and 150,000 metric tons of OTR tires.
Sailun, the world's No. 17 tire maker based on 2020 sales of $2 billion, said it expects to break ground in the fourth quarter on the project, located in Dongjiakou, a coastal port town about 25 miles south of Qingdao.